Big markets are in an interesting area and appear to be vulnerable. But with Apple's earnings reporting tonight and beating expectations we may not see the market deteriorate. Historically, this is definitely the time of year to be cautious as we may see pull back. Both the NDX and the SPX are forming a wedge formation and cold go either way.
AXTI: Stock recently broke out through lateral resistance, pulled back and popped again. It traded as high as $9.50 today on good volume closing at $9.15. If this has the momentum to trade over today's high then $12.00 is the price target. Short ratio, 3.8 days to cover.
HZN: Early this year the stock was trading around $25.00 before falling hard to the $12.00 range. It has been building a base there for the last 4 months. Today, it spike higher trading as high as $17.87 closing at $17.23. With a large short position, this stock may squeeze higher with $21.00 as my price target. Short ratio, 11.6 days to cover. The shorts should be nervous.
LL: The stock has made a long term rounding bottom and today spiked higher on earnings trading as high as $33.75, closing at $33.59. It is near resistance here at $34.00. But if it can get through that level the next stop is in the low $40s. And the short squeeze is on with a short ratio of 9.1 days to cover.
SGMS: After the big pop 6 days ago the stock has been forming a flag pattern. If it should break out of this pattern to the upside then $44.00 is the price target. Short ratio, 12 days to cover, a short squeeze could add a lot of momentum to this trade if it pops out.
Short ratio explained here: https://profit.ly/user/Turbobob/videolesson/17636 and here: http://www.investopedia.com/terms/s/shortinterestratio.asp
When would you buy $SGMS? After previous HOD $39.25?
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